CHAPTER 83 - STATE TREASURER

AN ACT CONCERNING THE MORTGAGES EXECUTED TO THE STATE OF DELAWARE BY THE JUNCTION AND BREAKWATER RAILROAD COMPANY AND THE BREAKWATER AND FRANKFORD RAILROAD COMPANY.

WHEREAS, The Philadelphia, Wilmington and Baltimore Railroad Company, the predecessor of the Philadelphia, Baltimore and Washington Railroad Company, paid to the State Treasurer, for the use of the State, the principal and interest as provided by Section 1, of the Act of the General Assembly, passed May 8, 1891, being Chapter 20 of Volume 19, Laws of Delaware, leaving a balance due of principal on the mortgage executed by The Junction and Breakwater Railroad Company to The State of Delaware of One Hundred and Eighty-five Thousand Dollars and a balance due of principal on the mortgage executed by The Breakwater and Frankford Railroad Company to The State of Delaware of Two Hundred Thousand Dollars, and

WHEREAS, there was due, on September 25th, 1934, of principal of the said mortgage of The Junction and Breakwater Railroad Company to The State of Delaware, the sum of One Hundred and Eighty-five Thousand Dollars and there was also due the sum of One Thousand Three Hundred and ten and 42/100 Dollars, accrued interest on the said mortgage aggregating the sum of One Hundred and Eighty-six Thousand Three Hundred and Ten and 42/100 Dollars, and

WHEREAS, there was due, on September 25th, 1934, of principal of the said mortgage of The Breakwater and Frankford Railroad Company to the State of Delaware, the sum of Two Hundred Thousand Dollars and there was also due the sum of Fourteen Hundred and Sixteen and 67/100 Dollars accrued interest on the said mortgage, aggregating the sum of Two Hundred and One Thousand Four Hundred and Sixteen and 67/100 Dollars, and

WHEREAS, the said The Philadelphia, Baltimore and Washington Railroad Company, on September 25th, 1934, paid to the State Treasurer, for the use of the State, the said sum of One Hundred and Eighty-six Thousand, Three Hundred and Ten and 42/100 Dollars the balance due of principal and accrued interest on the said mortgage of The Junction and Breakwater Railroad Company, and

WHEREAS, the said The Philadelphia, Baltimore and Washington Railroad Company, on September 25th, 1934, also paid to the State Treasurer, for the use of the State, the said sum of Two Hundred and One Thousand, Four Hundred and Sixteen and 67/100 Dollars, the balance due of principal and accrued interest of the said mortgage of the said The Breakwater and Frankford Railroad Company; now therefore

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (two-thirds of each branch of the Legislature herein concurring) as follows:

Section 1. That the State Treasurer be and he is hereby authorized, empowered and directed to grant, bargain, sell, assign, transfer and set over unto the said The Philadelphia, Baltimore and Washington Railroad Company, its successors and assigns, the said mortgage executed by the said The Junction and Breakwater Railroad Company, dated May 8th, A. D. 1867, and recorded in the office for Recording Deeds, etc., in and for Sussex County, Delaware, in Mortgage Book A. No. 1, folio 188 etc. and also recorded in the office for Recording Deeds etc. in and for Kent County, Delaware, in Mortgage Book F. Volume 1, page 67 etc. and also the said mortgage executed by The Breakwater and Frank-ford Railroad Company, dated May 2nd, A. D. 1874, and recorded in the office for Recording Deeds etc. in and for Sussex County, Delaware, in Mortgage Book 3, Volume C, folio 78 etc. and all moneys, principal and interest, due or to become due on the said two mortgages and thereby secured, or intended so to be, as aforesaid and all property, real and personal, in the said two mortgages mentioned and described or intended so to be.

Together with the rights, members and appurtenances thereto belonging and all the estate, right, title and interest in the said two mortgages of the State of Delaware, to have and to hold all and singular the premises thereby granted and assigned, or mentioned or intended so to be, unto the said The Philadelphia, Baltimore and Washington Railroad Company, its successors and assigns, forever.

Subject nevertheless to the right and equity of redemption (if any there be) of the said mortgagors, The Junction and Breakwater Railroad Company and The Breakwater and Frankford Railroad Company, their successors and assigns in the same.

Section 2. This Act shall be deemed a public Act.

Approved February 18, 1935.